https://www.taxtmi.com/caselaws?id=448442 The ITAT Mumbai ruled in favor of the assessee regarding transfer pricing adjustments for marketing support services. The tribunal directed the AO/TPO to exclude three companies from the comparable list: Axis Integrated System Ltd. (providing professional consultancy services rather than marketing support), Killick Agency and Marketing Ltd. (different functions and revenue activities), and Majestic Research and Solution Ltd. (engaged in study, design, and data collection activities). The tribunal found these companies' functions were not comparable to the assessee's marketing support services, allowing grounds of appeal 1.6 to 1.8. en-us Thu, 30 Nov 2023 00:00:00 +0530 Thu, 18 Jan 2024 19:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448442 The ITAT Mumbai ruled in favor of the assessee regarding transfer pricing adjustments for marketing support services. The tribunal directed the AO/TPO to exclude three companies from the comparable list: Axis Integrated System Ltd. (providing professional consultancy services rather than marketing support), Killick Agency and Marketing Ltd. (different functions and revenue activities), and Majestic Research and Solution Ltd. (engaged in study, design, and data collection activities). The tribunal found these companies' functions were not comparable to the assessee's marketing support services, allowing grounds of appeal 1.6 to 1.8. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448442